Colombia’s digital-banking maverick, Banco Davivienda, has strengthened its position through fully exploiting its app DaviPlata to meet the challenges imposed by the pandemic. By simplifying processes such as completing retail purchases to receiving government funds, DaviPlata has succeeded in financially including much of the population.
For the world’s economy, 2021 hasn’t yet brought a break from 2020; COVID-19 remains dominant. Although all banking systems are vulnerable to upheaval, the situations for those in emerging markets are more tenuous for several reasons. S&P Global Ratings examined the three major risks facing a sample of 15 EM countries, including likely deterioration in asset quality, geopolitical and domestic policy uncertainty and vulnerability to abrupt changes in investor sentiment.
The world’s citizens have always been beset by risks of different types, but the frequency and intensity of risks from a variety of sources are increasing, especially for emerging economies in Latin America and the Caribbean. Insurance is the preferred recourse for those suffering from unfortunate events beyond their control, but even insurance has its limitations. What are the most effective risk-management tools available today?
Colombia, Chile and Peru have agreed to combine their stock markets into the Latinamerican Integrated Markets (MILA). The move comes to expedite the money exchange operations of the three partners. Participating partners are the Electronic Bourse of Chile, the Colombia Stock Exchange, the Stock Exchange of Lima, Colombia’s Set ICAP EX and Datapec from Peru.